164,650 Shares in Penn National Gaming, Inc (PENN) Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS acquired a new position in shares of Penn National Gaming, Inc (NASDAQ:PENN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 164,650 shares of the company’s stock, valued at approximately $5,531,000. Kornitzer Capital Management Inc. KS owned about 0.18% of Penn National Gaming as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PENN. Millennium Management LLC increased its holdings in Penn National Gaming by 64.9% during the 1st quarter. Millennium Management LLC now owns 2,337,500 shares of the company’s stock valued at $61,383,000 after acquiring an additional 920,184 shares in the last quarter. Hood River Capital Management LLC lifted its position in Penn National Gaming by 149,643.6% during the second quarter. Hood River Capital Management LLC now owns 730,749 shares of the company’s stock valued at $24,546,000 after buying an additional 730,261 shares in the last quarter. Bamco Inc. NY lifted its position in shares of Penn National Gaming by 12.6% during the first quarter. Bamco Inc. NY now owns 6,481,736 shares of the company’s stock worth $170,210,000 after purchasing an additional 723,929 shares in the last quarter. OppenheimerFunds Inc. lifted its position in shares of Penn National Gaming by 839.4% during the first quarter. OppenheimerFunds Inc. now owns 660,128 shares of the company’s stock worth $17,335,000 after purchasing an additional 589,858 shares in the last quarter. Finally, Copper Rock Capital Partners LLC acquired a new position in shares of Penn National Gaming during the second quarter worth $19,265,000. 99.04% of the stock is currently owned by institutional investors.

In other Penn National Gaming news, Director Saul Reibstein sold 6,694 shares of the stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $35.00, for a total transaction of $234,290.00. Following the transaction, the director now owns 25,642 shares in the company, valued at $897,470. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy J. Wilmott sold 94,013 shares of the stock in a transaction that occurred on Friday, July 13th. The shares were sold at an average price of $36.43, for a total value of $3,424,893.59. Following the transaction, the chief executive officer now owns 513,967 shares in the company, valued at approximately $18,723,817.81. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 101,450 shares of company stock worth $3,132,336 and sold 225,330 shares worth $8,037,760. Corporate insiders own 10.56% of the company’s stock.

PENN stock traded down $0.19 during mid-day trading on Friday, reaching $34.46. 782,700 shares of the stock traded hands, compared to its average volume of 1,327,969. The firm has a market capitalization of $3.19 billion, a PE ratio of 3.84, a P/E/G ratio of 1.96 and a beta of 1.51. Penn National Gaming, Inc has a 52-week low of $20.76 and a 52-week high of $36.90. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 162.63.

Penn National Gaming (NASDAQ:PENN) last issued its earnings results on Thursday, July 26th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Penn National Gaming had a return on equity of 268.43% and a net margin of 18.02%. The company had revenue of $826.91 million for the quarter, compared to the consensus estimate of $840.15 million. During the same quarter in the prior year, the company earned $0.18 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. equities research analysts anticipate that Penn National Gaming, Inc will post 1.76 earnings per share for the current year.

Several analysts recently issued reports on PENN shares. BidaskClub cut shares of Penn National Gaming from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. TheStreet upgraded shares of Penn National Gaming from a “c+” rating to a “b-” rating in a research note on Monday, May 21st. Morgan Stanley boosted their target price on shares of Penn National Gaming from $31.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 26th. Nomura upped their price target on shares of Penn National Gaming from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, May 24th. Finally, UBS Group lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $36.27.

Penn National Gaming Company Profile

Penn National Gaming, Inc owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through Northeast, South/West, and Midwest segments. As of December 31, 2017, it operated 27 facilities in 17 jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada.

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Institutional Ownership by Quarter for Penn National Gaming (NASDAQ:PENN)

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